A popular crypto strategist is warning that Bitcoin ( BTC ) is trading at critical levels, signaling a high risk for a deeper correction. Pseudonymous trader Altcoin Sherpa tells his 242,800 followers on the social media platform X that Bitcoin must hold $76,600 as support to remain bullish. Other key levels the analyst is watching closely are $77,903 and $78,197. “Do or die levels for BTC.” Source: Altcoin Sherpa/X The analyst warns that if Bitcoin closes below $76,000 on the three-day chart, the flagship crypto will likely revisit the mid-$60,000 range. “We close below that wick at $76,000 on HTF (high timeframe) and I think we go to mid-$60,000s quickly if we don’t rebound near immediately after. It’s not a bad R:R (risk:reward) spot for a long around here but obviously a bit dangerous.” Source: Altcoin Sherpa/X According to the analyst, whether Bitcoin may rally without retesting the $60,000 range may be decided any moment now. “Current region hopefully holds but overall market structure is ugly. High $60,000s still on the table for BTC, but the next few days should be quite telling.” Source: Altcoin Sherpa/X He also says that Bitcoin may be stuck in a low-volume trading gap in the near term. “Volume profile shows a lack of activity in the $71,000-$82,000 region; wouldn’t be surprised to see price chop around here for a while to fill it out. I had this theory a while ago.” Source: Altcoin Sherpa/X Bitcoin is trading for $82,400 at time of writing, up 7.6% in the last 24 hours. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Analyst Issues Urgent Bitcoin Alert, Says BTC at ‘Do-or-Die’ Levels – Here Are His Bearish Targets appeared first on The Daily Hodl .
